It logged a net loss of HK$1.26 billion ($160.69 million) for 2017, wider than last year’s loss of HK$575 million but smaller than an average estimate of HK$2.15 billion drawn from 11 analysts polled by Thomson Reuters.

It reported an attributable profit of HK$792 million in the second half, helped by an improving cargo market, which helped offset its first half loss of HK$2.05 billion.

The company is in its second year of a three-year turnaround programme that aims to make HK$4 billion in savings. It has announced job cuts and plans to boost productivity including increasing the number of economy-class seats on Boeing 777 planes. ($1 = 7.8414 Hong Kong dollars) (Reporting by Brenda Goh in SHANGHAI Editing by Edwina Gibbs and Muralikumar Anantharaman)